Country Garden Holdings Company Limited announced that due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex. The Company needs to collect more information to make appropriate accounting estimates and judgments, and reasonably reflect changes in the industry and the Company in the consolidated financial statements of the Group for the year ended 31 December 2023. At the same time, as the Group's debt restructuring work is still in progress, given the large number and wide distribution of the Group's projects and the heavy workload and great complexity involved in the relevant due diligence work, the Group needs more time to collect relevant financial information to carefully assess its current and future financial resources and financial obligations.

The Group is working with its financial advisors and legal advisors to assess the Group's position and is working closely with various creditors to formulate practicable measures as soon as possible. The Company expects that it will take a longer time to complete the preparation of the consolidated financial statements of the Group for the year ended 31 December 2023. So, the Group's results for the financial year ended 31 December 2023 will not be ready for publication by 31 March 2024 in compliance with Rule 13.49(1) of the Listing Rules.

As a result of the delay in publication of the 2023 Annual Results, there will also be a delay in despatch of the Company's annual report for the financial year ended 31 December 2023. The delay in despatch of the 2023 Annual Report, if materialised, will constitute a non-compliance with Rule 13.46(2)(a) of the Listing Rules which requires the 2023 Annual Report to be despatched to the shareholders of the Company no later than four months after the end of the financial period (i.e. on or before 30 April 2024).